Brush Creek Mining and Development Corporate Update.GRASS VALLEY, Calif.--(BUSINESS WIRE)--July 8, 1998--Brush Creek Mining and Development Co., Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BCMD BCMD Blood Cells, Molecules, and Diseases (journal) BCMD Biological and Chemical Munitions Disposal ) today announced that its 30% partner, Volcanic Resources, had not yet paid the company the $1,080,000 payment the company believes was due on July 5, 1998. Brush Creek Brush Creek may refer to: In California:
meantime, meanwhile , discussions between Brush Creek and Volcanic are ongoing. The company would suffer a material adverse effect should Volcanic ultimately not make the payment. As discussions continue with Volcanic, Brush Creek is pursuing other partnership opportunities and financing alternatives. No assurance can be given that the company will be able to successfully conclude the alternative negotiations. In order to attempt to preserve the company's remaining cash, Brush Creek has laid off its work force. The lay-off comes at a particularly inopportune in·op·por·tune adj. Inappropriate or ill-timed; not opportune. in·op  por·tune time as the mining crews had just broken into
virgin gravel in the Black Channel at the Lawry Mine.
CONTACT: Brush Creek Mining and Development Co., Inc.
Lionel Gosselin, 888/272-7335
Jim Chapin, 530/477-5961
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion